Bill > S03062

This bill requires insurers participating in the assigned risk plan (a program that provides auto insurance to high-risk drivers who cannot obtain coverage in the standard market) to conduct periodic reviews of their assigned policy holders to determine if they are now eligible for standard auto insurance. Specifically, insurers must review each policy holder's risk profile within 90 days of the law's effective date and then every two years thereafter. If a policy holder is deemed eligible for voluntary market coverage, the insurer must offer them a policy in the standard market upon renewal. The bill mandates that insurers send written notice to policy holders at least 30 days before conducting the review, informing them of their right to seek voluntary market coverage at any time. Additionally, insurers must notify policy holders within 10 days of determining their eligibility for standard market coverage. The superintendent of insurance is also required to review these eligibility determinations during examinations to ensure they are based on sound underwriting principles and that eligible policy holders are being properly transitioned to voluntary market coverage. Policy holders are given the right to file a complaint with the superintendent if they believe an insurer is not complying with these requirements.

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https://www.nysenate.gov/legislation/bills/2025/S3062